INSUBCONTINENT EXCLUSIVE:
shares climbed after the Wall Street Journal reported that Qualcomm Inc
approached the company about a takeover
(Photo: Shutterstock)2 min read Last Updated : Sep 21 2024 | 2:56 PM ISTBy Ian KingIntel Corp
shares climbed after the Wall Street Journal reported that Qualcomm Inc
approached the company about a takeover, a potential record-setting deal for the chip industry.
The discussions occurred in recent days,
the newspaper said, citing unnamed people familiar with the situation
Even so, a deal is far from certain, according to the Journal
Representatives for Intel and Qualcomm declined to comment.
The shares rose 3.4 per cent to $21.87 in New York trading Friday, rebounding
from a decline earlier in the day
Clara, California, announced a raft of changes this week aimed at getting its business back on track
The moves included a multibillion-dollar deal with Amazon.com Inc
do its own chip production
It outsources manufacturing to partners like Taiwan Semiconductor Manufacturing Co., which also makes chips for Nvidia Corp
and Advanced Micro Devices Inc.
Acquiring Intel could potentially provide Qualcomm with access to its own production in the US, as well as
area where TSMC excels.
Qualcomm was involved in a contentious takeover saga more than six years ago, when Broadcom Inc
attempted to acquire the company
Broadcom walked away from the bid after President Donald Trump blocked the deal, citing national security risks.First Published: Sep 21 2024
